FRST Q2 2026: Net income +287% to $9.4M on lower credit costs, material weakness persists

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~1 min read

Key Changes

• high

  Net income rose 287% to $9.4M ($0.38 diluted EPS) in Q2 2026 vs Q2 2025, driven by 285.6% growth in net interest income and a 29% decline in credit loss provisions. Prior-year H1 2025 included $32M in one-time PFH deconsolidation and share sale gains that did not recur.

  MD&A: Net Income and EPS verify on EDGAR →
• high

  Material weakness in internal controls over financial reporting remains unremediated as of June 30, 2026, unchanged from prior periods.

  MD&A: Internal Controls verify on EDGAR →
• high

  FHLB advances increased to $300M at June 30, 2026 from $0 a year earlier, reflecting short-term borrowings to fund loan growth. This marks a shift from 100% deposit funding to utilizing wholesale borrowings.

  MD&A: FHLB Advances verify on EDGAR →